Does OPEC miss the fact the oil demand will continue to go down, even if the economy picks up?

Finally, we as a global entity, are about to decrease our dependence on oil, OPEC discusses the volatility that could result when demand resurges after this economic crisis, but I propose that the demand will never return to where it was. We are driving more efficient vehicles, we are carpooling, we are conserving, and I think this is a trend that will continue to grow... is this a fact that OPEC misses? (Is it a fact?)Does OPEC miss the fact the oil demand will continue to go down, even if the economy picks up?
Its not a fact. We are driving less, but not really buying more efficient cars. Car sales have stalled out. Many people are stuck in their old over sized truck or suv.





India and China and even the middle east will drive demand for oil well up. Unless there is a huge ';green'; revolution in America, there will come a point not to far out where those 3 regions will well outpace the USA in need for oil.


300,000,000 Americans


1,300,000,000 Chinese


750,000,000 Indians


500,000,000 Arabs, Persians and Western Asians...


Does OPEC miss the fact the oil demand will continue to go down, even if the economy picks up?
After their experience in the early 80's they are well aware of the problem, and did not want prices over $100 a barrel and they produced as much as they could. However developing countries, especially China, have increased the demand for oil, so when the recession ends prices will increase even if we put in conservation measures.


http://www.eia.doe.gov/pub/oil_gas/petro鈥?/a>
True some are conserving now....but it will change when the price is cheaper. People will drive two blocks to get a big mac again. I hope I am wrong but until alternative energy is viable OPEC will do what they want.


I have noticed in my small town an increase in driving already. Supply and demand runs the show.
They also miss the fact that the technology for things like hydrogen cars is already available eliminating the need for foreign oil all together. I think they are biting the hand that feeds them in the long run.